Switzerland’s watch exports may rise to a record in 2011 as demand for luxury timepieces continue to recover, said Jean-Daniel Pasche, head of the Federation of the Swiss Watch Industry. Shipments this year may break the record of 17 billion francs ($17.7 billion) of exports set in 2008, Pasche said in an interview today on the final day of the Geneva watch fair. Exports in 2010 were "a bit" higher than the 16 billion Swiss francs of watches and components the industry shipped to other countries in 2007, Pasche said. The trade group will publish exact figures for 2010 in early February, Pasche said. Exports in the first 11 months of the year rose 22 percent to 14.6 billion francs, the group said last month. Read more.
Bulgari is hosting an exhibition featuring the first collection of timepieces created after Bulgari integrated the luxury Swiss watchmaking companies, Gerald Genta and Daniel Roth, under its own brand last year. "Bulgari: A New Face In Time," will open Wednesday at the Luxe Art Museum in Singapore. While the exhibition will still boast plenty of sparkle, courtesy of a selection of haute jewelry and vintage watches dating as early as 1945, the focus will be on the new Bulgari Gerald Genta and Daniel Roth collections, unveiled at last year's BaselWorld international watch fair . Read more (Pictured, Daniel Roth Collection: Grande Lune and Papillon Chronograph)
Christie’s Watch Business Booming in Dubai Dubai is poised to become a target market for rare, luxury watches with sales in the emirate rising 42 percent since 2008, London-based auction house Christie’s told a Dubai-based publication. Two auctions of rare timepieces in the emirate last year generated sales of $2.5 million, Christie’s said, a rise of 19.5 percent on the revenue generated the previous year from rare watch sales. The revenue represents a rise of more than 42 percent since 2008, Aurel Bacs, international head of Christie’s Watches told the publication, Arabian Business. “The growth in watch sales since 2008 in Dubai has been beyond our expectations.” he said. “With this level of growth we expect Dubai to become an increasingly significant auction centre for our global watch sales.” The priciest piece sold in Dubai last year was a Patek Philippe piece with moon phase display (pictured), which sold for $116,500.